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Alteria Capital, a venture debt fund, announces the first close of its third fund at INR 1,000 crore. It expects the same fund to close at around INR 2,000 crore in the next two to three quarters.
SEBI (Securities and Exchange Board of India) approved the third fund in the second quarter, with a target corpus of 1,000 crore and a greenshoe option of 1,000 crore. Alteria Capital’s three venture debt funds manage nearly INR 3,800 crore ($475 million).
Despite the current funding winter and economic volatility, startup founders expressed strong interest in this appealing asset class, according to the fund’s senior executives.
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